The Ethics of Competition and Other Essays

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Exploring the interplay between economics and broader societal themes, this work critiques neoclassical economic theory and its reductionist tendencies. Knight argues that the pursuit of simplistic explanations leads to frustration, impacting liberal democracy and human nature. Key chapters address economic psychology, the limitations of scientific methods in economics, and the fallacies of social cost interpretation. This influential text is essential for economists, political theorists, and philosophers, reflecting Knight's significant contributions as a foundational figure in the Chicago School of Economics.